It is. Assemble an army of ten dogs/cats, deplete enemy's HP by switching soldiers around, use magic for different effects, get treasure chests that contain Cool Hats for your lead Mii, strike hard-armored enemies with stronger units...

I like Find Mii - up until the new firmware update, I had beaten it completely - but it's not an RPG. You have no choice in what you do, no stat growth, the hats you equip don't make a difference in gameplay... It's just a fun little game. I'm happy they're expanding it - looking forward to finding out what the new hats are. :) Can't remember which hat I'm wearing right now, but it's not the final boss hat.

But you can gain levels! Everytime you meet someone you've met before, he or she will gain a level. I'm level 7 on my friend's 3DS and he's level 7 on mine as well. I can take out a lot of things in one hit and since I'm usually blue my magic is pretty cool too :D

It is definitely handy when you have frequent contact with someone. When my wife or I ran into those color-specific guys, the other one just change their color to that, and in the next meeting, that guy was dead. :)